SNDA Negotiation Value Calculator

SNDA balances tenant security with lender priority.

Tenant annual rent

Remaining lease years

Discount rate %

Tenant build-out PV

SNDA value to tenant

$1,362,288

Lease PV protected

$2,811,440

Total protection value

$3,611,440

How the math works

Lease PV = discounted remaining rent. SNDA value ≈ 20% of lease PV + build-out PV (protection value).

$540k × 7 yr at 8% = $2.81M lease PV. SNDA value ~$562k + $800k = $1.36M build-out. Significant protection.

How to Use

Enter tenant annual rent.
Enter remaining lease years.
Enter discount rate %.
Enter tenant build-out PV.
Read SNDA value to tenant.

Frequently Asked Questions

SNDA mechanics?

Subordination: tenant lease subordinates to lender mortgage. Non-Disturbance: lender agrees not to terminate tenant in foreclosure. Together: S-N-D-A. Balances lender priority with tenant security. Standard in institutional deals.

Tenant benefits?

Protection from eviction in landlord default/foreclosure. Continued tenancy under same lease. Preserves build-out investment. Without SNDA: tenant subordinated but no protection — risky.

Lender considerations?

Maintains foreclosure flexibility. But SNDA burdens: leases continue even with bad terms. Lender typically negotiates: approval rights on major lease changes, material defaults terminate SNDA. Legal review both sides.

How often should I rerun this?

Rerun this calculator whenever inputs change materially — new rent roll data, rate moves, loan balance updates, or quarterly operating data. For active deals, monthly refresh is typical. For stabilized assets under monitoring, quarterly is fine. Treat the output as a decision tool, not a one-time answer — market conditions evolve and so should your analysis.